HongKongCoin is just like another VisaCoin. Just Another Big SCAM from a good of Mainland Chinese Scammers. According to the coin specifications, it is extremely likely a CoingenCoin.
Here are the key problems of HongKongCoin
1. A Coingen Coin: According to the coin specifications, it is extremely likely a CoingenCoin. [see following texts and pictures for details]
2. Lack of Integrity: Dev has said that he was born in HK. This is a big lie. When Hong Kong people asked for evidence, he could not provide.
3. Lack of Understanding and Real Plan for HK: I could not see any real and feasible plan to make HKC as a useful cryptocurrency in HK.
4. 2.5% premined coins for HK people .. this is really not enough when distributing to all HK people.. in average only 2 HKC per person in HK. However, 2.5% premined coins can be understandable if the HKC is a Coingen coin. It is because it is time consuming and expensive to premine 50% Coingen coins.
5. Distribution of 2.5% premined HKC to HK people via faucet. This also means the decentralization is only restricted to people who knows what cryptocurrency is. This is not fair to all other HK people. This is not a real decentralization in Hong Kong.
6. Distribution by faucet is a method full of faults. A lot of coins can be distributed outside HK. Furthermore, this method is IP specific, but not person specific. For those people like me having a good number of IP addresses in hand, I could have multiple times of giveaway HKCs from faucet everyday (vs Dev has planned for only once every 24 hrs). [see following texts and pictures for details]
7. No auditing in the faucet method. The distribution of the 2.5% premined coins is not transparent. No one knows how many HKC coins from these 2.5% premined coins will be finally distributed to Hong Kong people or finally are kept by the coin developers. This is where the scam is.
8. The 2.5% premined coins are not traceable with the current HKC block explorer. It seems something has been hidden. See this post for evidence
https://bitcointalk.org/index.php?topic=523292.msg6134693#msg61346939. Basically, there is no novelty in this coin, except claiming this coin is Hong Kong affiliated. Unfortunately, it is not so true.
10. Illegal use of the HK Regional Emblem. The HK regional emblem or their designs must not be displayed or used in trademarks or advertisements (Section 6 of the Regional Flag and Regional Emblem Ordinance) (Updated: the HKC logo was changed to one without HK Rgional Emblem on April 5, 2014)
11. A Coin Lack of Recognition from Hong Kong people: We all HongKongers in Bitcointalk have a strong feeling that HongKongCoin has kidnapped and hijacked the name of Hong Kong. We all consider it as a fake HongKongCoin.
12. HKC dev team are Bittrex and Poloniex imposters in Bitcointalk forum.
[See these 2 threads for details:
https://bitcointalk.org/index.php?topic=526884.0;
https://bitcointalk.org/index.php?topic=530895.0]
13. Collaborating with xtremedice to use HKC in gambling: In Hong Kong, by law it is illegal to run and/or participate in any unauthorized gambling platforms/websites involving any items with value, including but not restricted to bitcoins and altcoins.
[See this thread for details:
https://bitcointalk.org/index.php?topic=560998.0]
Why is HongKongCoin extremely likely a COINGEN COIN!!!For Coingen Coin, the coin maximum cannot be completely controlled because it is decided by the values that one inputs into the input boxes.
What a such coincidence that ... after inputting all these values according to HKC spec, 600 million coin maximum comes up. This is just the same as the coin max of HKC.
Moreover, Coingen coin typical is fixed at 50 blocks for maturity. What a coincidence that HKC also has a maturity of 50 blocks!Last but not least, all Coingen coins having wallet addresses starting with "1"! HKC wallet address starting with "1". [/size]
1. Here is the 1st evidence:
2. Here is one more evidence supporting HongKongCoin is extremely likely a Coingen coin.We all know that all Coingen coins using a wallet address using "1" as the first number.
Interesting HKC wallet address also starts with "1".
3. Why 2.5% premined for Hong Kong People?
Some people may ask why HongKongCoin dev only plans to giving 2.5% premined coins to Hong Kong people.
If HKC is a coingen coin, this can be easily explained.
It is simply because it is time consuming to premine 50% premined coins as in the case of other National Coins.
It could take months to so do. Furthermore, it is very costly in term of electricity bill for the minting computers.
4. HongKongCoin dev is a liar. He just wants to SCAM people by Keeping "Made in Hong Kong" identity.
Here is evidence that HongKongCoin dev said he was born in Hong Kong, but he refused to provide any evidence.
No auditing in the faucet method. The distribution of the 2.5% premined coins is not transparent. No one knows how many HKC coins from these 2.5% premined coins will be finally distributed to Hong Kong people or finally are sold by the coin developers. This is where the SCAM is.
What I want is a RESPECT for HONG KONG PEOPLE!
Don't pretend to be HongKonger! Don't use Hong Kong's name to make money!
I HAVE POSTED A CHALLENGE, AND I HAVE ANSWERED YOUR QUESTION. PROVE THAT I AM TRYING TO MAKE MONEY. PROVE THAT I HAVE STOLEN, AND I WILL SHUT THIS PROJECT DOWN. AND WILL GET ALL OF THE COINS VALUED AT SEVERAL BTC.Oh..sorry for missing your answers in the big words. You were born in Hong Kong. Please provide me evidence that you were born in Hong Kong. Don't just BS.
Cryptobuddy shut the fuck up. You promissed yesterday that after getting the answer you will stop making the noise.
You got the answer dev was born in hk. Keep your promise.
Please read my previous posts. Yesterday I said.. answers with evidence.. LOL
MY IDENTIFICATION DOCUMENTS WILL NOT BE GIVEN OUT. I WILL ESPECIALLY NOT GIVE IT TO A LUNATIC. DO YOU WANT SATOSHI NAKAMOTO'S DOCUMENTS TOO. YOU FUCKING LUNATIC.
5. Here I provide evidence to show how vulnerable the HKC faucet is.
Today I tried to use a "special" way to generate a series of NEW IPs. Using these temporary IPs, I was able to obtain 19 times of 500 HKC giveways from the faucet. I stopped just because I felt tired to get more.. In fact, I could get as many times as I want .... LOL
Here is the record of my 19 "500 HKC" giveways that I obtained within 15 minutes. On the day before I got 11 "100 HKC" giveaways from HKC faucet.
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Fvv8qxOO.png&t=665&c=bzuprj4AbCfZ3g)
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FeGmJPwX.png&t=665&c=LHNWgM2MDy2E6A)